Newcastle United’s manager Eddie Howe has acknowledged uncertainty over Alexander Isak’s future amid ongoing transfer speculation, particularly interest from Liverpool. Howe confirmed that while Isak is expected to join the team on their upcoming Far East pre-season tour, he cannot guarantee the striker will remain at Newcastle for the new season. This comes as Isak’s representatives have stated they are "studying and analysing all options" for the 25-year-old forward, valued at around £150 million[1].

Recent reports reveal that the decision over Isak's future is being handled not by the coaching staff but by Newcastle’s ownership, specifically the Saudi Public Investment Fund (PIF) and chairman Yasir Al-Rumayyan. This takeover in negotiations complicates matters, as despite Liverpool's strong interest—reportedly willing to offer up to £120 million, which would set a British record—the club insists Isak is not for sale for less than their valuation above £150 million[2][4].

The situation is further muddled by Isak’s omission from the pre-season tour squad due to "injury," a decision that reportedly left some teammates confused and raised questions about his status within the squad. Teammate Bruno Guimaraes hinted at the difficulties Isak has faced recently, acknowledging the striker's challenging period[2].

From Newcastle’s perspective, key factors for Isak to remain include his contentment at the club and new contract discussions, which so far have not materialized. There is a sense of frustration attributed to the lack of a pay rise and unsettled status, prompting Isak to explore other options, although no formal transfer request has been made. Negotiations could involve improved terms or potential release clauses to persuade him to stay[3].

Eddie Howe expressed Alexander Isak 'concern' before Liverpool approach as new landing spot emerges	Saudis hijack Eddie Howe’s authority as Liverpool push for Alexander Isak deal – Telegraph	'Conversations': Eddie Howe speaks out on Alexander Isak and admits there's 'things going on behind the scenes'

In summary, Alexander Isak’s future at Newcastle is uncertain, governed by high-value negotiations managed by the club’s Saudi owners, overshadowed by Liverpool’s ambition to sign him, and complicated by contract and player contentment issues, leaving the transfer saga open as the new season approaches.